Common use of Succession and Transfer Clause in Contracts

Succession and Transfer. Each and all of the provisions of this Agreement are binding upon and inure to the benefit of the Company and the Optionee and their successors, assigns and legal representatives; provided, however, that the Option granted hereunder shall not be transferable by the Optionee (or the Optionee’s successor or legal representative) other than by will or by the laws of descent and distribution and may be exercised during the lifetime of the Optionee, only by the Optionee or by his or her guardian or legal representative.

Appears in 8 contracts

Samples: Performance Non Qualified Stock Option Agreement (Aimco OP L.P.), Non Qualified Stock Option Agreement (Aimco OP L.P.), Non Qualified Stock Option Agreement (Apartment Income REIT Corp.)

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Succession and Transfer. Each and all of the provisions of this Option Agreement are binding upon and inure to the benefit of the Company and the Optionee and their successorsrespective estate, assigns successors and legal representativesassigns; provided, however, that the Option granted hereunder shall not be transferable by the Optionee (or the Optionee’s successor or legal representative) holder thereof other than by will or by the laws of descent and distribution and may be exercised exercised, during the lifetime of the Optionee, only by the Optionee or by his or her guardian guardian, custodian or legal representative.

Appears in 3 contracts

Samples: Form of Stock Option Agreement (American Biltrite Inc), Stock Option Agreement (Congoleum Corp), Stock Option Agreement (Congoleum Corp)

Succession and Transfer. Each and all of the provisions of this Option Agreement are binding upon and inure to the benefit of the Company and the Optionee and their successorsrespective estate, assigns successors and legal representativesassigns; provided, however, that the Option granted hereunder shall not be transferable by the Optionee (or the Optionee’s successor or legal representative) holder thereof other than by will or by the laws of descent and distribution and may be exercised exercised, during the lifetime of the Optionee, only by the Optionee or by his or her guardian guardian, custodian or legal representative.

Appears in 1 contract

Samples: Stock Option Agreement (American Biltrite Inc)

Succession and Transfer. Each and all of the provisions of this Agreement are binding upon and inure to the benefit of the Company and the Optionee and their successors, assigns and legal representatives; provided, however, that the Option granted hereunder shall not be transferable by the Optionee (or the Optionee’s successor or legal representative) other than by will or by the laws of descent and distribution and may be exercised during the lifetime of the Optionee, only by the Optionee or by his or her guardian or legal representative.. Exhibit 10.24

Appears in 1 contract

Samples: Performance Non Qualified Stock Option Agreement (Aimco OP L.P.)

Succession and Transfer. Each and all of the provisions of this Agreement are binding upon and inure to the benefit of the Company and the Optionee and their successors, assigns and legal representatives; provided, however, that the Option granted hereunder shall not be transferable by the Optionee (or the Optionee’s 's successor or legal representative) other than by will or by the laws of descent and distribution and may be exercised during the lifetime of the Optionee, only by the Optionee or by his or her guardian or legal representative.

Appears in 1 contract

Samples: Incentive Stock Option Agreement (Apartment Investment & Management Co)

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Succession and Transfer. Each and all of the provisions of this Agreement are binding upon and inure to the benefit of the Company and the Optionee Employee and their successors, assigns and legal representatives; provided, however, that the Option granted hereunder shall not be transferable by the Optionee Employee (or the OptioneeEmployee’s successor or legal representative) other than by will or by the laws of descent and distribution and may be exercised during the lifetime of the Optionee, only by the Optionee or by his or her guardian or legal representative).

Appears in 1 contract

Samples: Incentive Stock Option Agreement (American Land Lease Inc)

Succession and Transfer. Each and all of the provisions of this Option Agreement are binding bind­ing upon and inure to the benefit of the Company and the Optionee and their successorsrespective estate, assigns successors and legal representativesassigns; provided, however, that the Option granted hereunder shall not be transferable by the Optionee (or the Optionee’s successor or legal representative) holder thereof other than by will or by the laws of descent and distribution distri­bution and may be exercised exercised, during the lifetime of the Optionee, only by the Optionee or by his or her guardian guardian, custodian or legal representative.

Appears in 1 contract

Samples: Stock Option Agreement (American Biltrite Inc)

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